I was listening to Marketplace on NPR during the commute home from work today. They reported that according to CBS, gas prices at the pump may surge $0.24 a gallon in the next few days. The article says that this is one analyst’s prediction, but that one analyst is getting a lot of press.
When something like that hits the news, it makes it that much easier to gas stations to raise their prices anyway. Upward-looking predictions tend to become a self-fullfilling prophecy.
Expect to pay significantly more at the pump and in the grocery store.
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7:21 am (reply)
“When something like that hits the news, it makes it that much easier to gas stations to raise their prices anyway. Upward-looking predictions tend to become a self-fullfilling prophecy.”
You got that right! It is the same way with college tuition. Everybody talks about how fast college tuition is going to increase, giving colleges an opportunity to raise prices.
JLP
http://AllThingsFinancial.blogspot.com